Mathematically speaking a fractal is basically something which, when you look a small part of it, it resembles the whole. A bit like a triangle, made up of triangles…

Here’s the $Gold chart over the last year or two…

And here it is over the last 17 years…

So we have two bullish symmetrical triangles (higher lows and lower highs), one within the other…

If we drop out of this to the downside, I don’t even want to contemplate where it might end up. That scenario seems unlikely to me though, when you consider all the uncertainty and instability in the world right now, coupled with physical gold demand that paper price will surely struggle to control. What if we’re on the cusp of a ‘repricing, event similar to what happened in the late 1970’s…

Those triangles are closing up, so we will all know the answer before too long.